Riverton, Inc. declares a small stock dividend of 8.0% of the outstanding shares of common stock. Currently, Riverton, Inc. has 1,500,000 shares of $1 par value common stock outstanding. The current market price of the stock is $121.28 per share. Riverton Partners will record a stock dividend in the amount of:

Select one:

A. $ 1,300,000

B. $98,540,000

C. $13,613,600

D. $14,553,600

E. None of the above